Post Utme Igbinedion University 2021 Commerce Question 38
Practice objective / multiple choice question 38 from the 2021 Post Utme Igbinedion University Commerce examination.
A firm is considering two different insurance policies to protect against losses. Policy A has a premium of ₦20,000 and pays out ₦50,000 in the event of a loss. Policy B has a premium of ₦30,000 and pays out ₦60,000 in the event of a loss. If the probability of a loss is 0.05, what is the expected value of Policy A?
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About This Question
This is Post Utme Igbinedion University 2021 Commerce Question 38. It is one of the objective questions from the 2021 Post Utme Igbinedion University Commerce examination.
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